Banco Pine Releases Its 2007 Results

SAO PAULO, Brazil, Jan. 30  /PRNewswire-FirstCall/ -- Private multiple bank specialized in the most attractive niches in the banking sector: credit to mid-size companies and collateralized personal credit, Banco Pine S.A. (Bovespa: PINE4) today announces its 2007 Results.

  Highlights of the Period:

  -- 2007 net income totaled R$166,053 thousand (excluding one-off IPO
     expenses and tax provisions), up 165.0% in comparison to 2006. These
     results were achieved due to higher credit flows, improved efficiency
     and increased volumes of complementary products.
  -- Return on average equity reached 29.2% in 2007, an increase of 620
     basis points over the previous year.
  -- In 2007, the financial margin before provisions for loan losses reached
     12.7%, 260 basis points over 2006.
  -- The total balance of the credit portfolio reached R$4,325 million on
     December 31, 2007, posting growth rates of 12.7% in the quarter, and
     108.2% in the previous twelve months.
  -- The origination of the corporate portfolio totaled R$4.7 billion in
     2007, a 109.3% increase in the last 12 months.
  -- The origination stream of payroll loans posted consistent growth,
     expanding to R$ 1.1 billion in 2007.
  -- The quality of the credit portfolio is attested by the fact that at end
     of December 2007, 97.8% of its composition was rated between AA to C.
     At the end of December 2007, the loan coverage of overdue credit
     portfolio reached 212%.
  -- Deposits increased over R$ 1 billion in the last twelve months. The
     primary funding source of Banco Pine consists of time deposits from
     companies and individuals. The 164.4% increase (y-o-y) outpaced the
     growth registered in the Brazilian National Financial System (5.3%).
  -- Cost control combined with higher revenue generation allowed for
     significant improvement in the efficiency ratio, which fell 1,300 bps
     in the past 12 months to reach 37.3% in 2007, despite the impact caused
     by higher bonus ever paid to the management and employees.




The full 2007 earnings release is available on Banco Pine's IR website at http://www.bancopine.com.br/ir

For further information, please contact Banco Pine's IR Area Phone: [phone]  

DATASOURCE: Banco Pine S.A.



CONTACT:  Banco Pine's IR Area, [phone], 



Web site:  http://www.bancopine.com.br/ir 

Copyright